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Search Results 0 to 19 of about 20 (some duplicates have been removed)
Feb 14, 2013 11:00pm EST
republicans could not agree on a debt ceiling deal, the obama administration proposed what was known at the time as a compulsory trigger to force spending cuts if both sides couldn't agree on a deficit reduction plan. it was meant to be so awful that no one would let it happen. hill republicans essential signed off. the president signed it. both sides guessed these automatic across the board spending cuts we've now come to know as sequestration. the new deadline for the cuts is the end of the month. and there is no deal to stop it. we keep hearing how bad it will be. one day a weak furloughs for up to 800,000 civilian pentagon employees. friday the navy is expected to announce it will postpone the repair of almost two dozen ships, threatening tens of thousands of jobs in virginia alone. and those repairs? >> if we don't do that, we are sending a ship out in harm's way that may not be as fit to fate as it should be. >> so here's how we avoid it. >> reporter: virginia's tim kaine is among senate democrats proposing an alternative, a $120 billion deficit reduction plan half in spending cut
Feb 15, 2013 4:00am PST
a little further out on the spectrum, you have a few things in the marketplace - of course, the debt ceiling coming up is one. but if you look at the market overall, it is still maintaining at that these high levels. it is working off some of the overbought conditions it basically attained through january, and, again like i said, we're only 1% off of the dow high from 2007, and we're only 2% off of the s&p high from 2007, so the market is consolidating here at a very good level, and it looks like it definitely has the potential to push those highs in the next couple of weeks. > what is going on with the big money, we used to call it, the so-called smart money, a lot of people just call it, the institutional players now. what do you see happening with those big funds and portfolios out there? > > you are seeing some allocations coming in, because basically what we are seeing is you're seeing some allocations coming into the market, then we are seeing them hedging some of that in the vix. but ultimately, they're putting a lot more money to work than they are kind of hedging out some of
Feb 15, 2013 4:25am EST
ceiling negotiations. it was to happen only if lawmakers fail today agree on reducing the nation's debt, something that has not happened yet. >>> last night senate republicans blocked the nomination of chuck hagel, the president's pick to be the next defense secretary. they are demanding more details from the white house on the daily raid on the u.s. consulate in libya last september and also want more time to look into income that hagel failed to disclose during confirmation hearings last week. republicans say they will not block an up-or-down vote after they get back from vacation in 10 days. >> i think that that is a sufficient period of time to get answers to any questions and i think that senator hagel after that period of time deserves a cloture vote and an up-or-down vote on his nomination. >> president obama says republicans are playing politics with national security during wartime and says hagel will eventually be confirmed. >>> coming up next on fox 5 morning news, warmer weather, the crack of the bat, you can almost smell spring around the corner, coh, yeah. baseball time. i
Feb 14, 2013 10:00pm EST
. as i recall, you recall the specifics of the 98%. there was the whole debt ceiling crisis and that is how we ended up with the sequester. it wasn't the president's idea to play with the default. i thought he out smarted those guys at the time. he is trying to admit that after he said he got 98% of what he got. he wants to blame the president for the problem that he created. you showed a tape that i thought was important of him saying it is all in the dems all in the senate. opposition does not always equal doing nothing. he has figured out how you can sound reasonable. >> if the senate passes something we will take a look at it. instead he was saying no, no, no right at the start. when he didn't have to because the senate was going to pass most of what we were talking about. >> that is why he is actually an accomplished politician. that is how you get to be house speaker of this crazy mess. it is the only practical way that anything will happen. if you have to go to a focus group where cutting spe inting more important than creating jobs, you would rather do nothing than trying to
Feb 15, 2013 1:00am EST
the specifics of the 98%. there was this whole debt ceiling crisis where they were about to default on american debt and send the entire global economy into a tailspin. and that's how we ended up with the sequester. now, if i remember rightly, it wasn't the president's idea to play around with default. but i could be wrong. i mean, what do i know in. >> and i thought that the president outsmarted those guys at the time. boehner is now retroactively trying to admit that after having said he got 98% of what he wanted. >> right. he wants to blame the president for a solution to, as richard said, the problem he created and this is not the natural order of things. i mean, lawrence, you showed the tape today that i thought was very important of boehner basically saying, hey, it's all in the dems. it's all in the senate. and if you go to, opposition does not always equal obstruction or doing nothing. i mean, newt gingrich who i don't hold up as a great example of much at least had the courage of his convictions to get out there and pass bills. that's not what these guys are abou
Feb 14, 2013 4:00pm PST
about, you know, budget stops and debt ceilings and all that stuff. he said leading this country to financial ruin right now, he talked about, and warned even when these days of chaos come afterwards, you better be armed about it. nobody knows if or when the fiscal collapse will come. but if the country is broke, there's likely to be not enough money to pay for police protection, and the american people know it. when wayne lapierre testified before congress, he emphasized this fear, that people have got to protect themselves from marauding mobs and the government might not be able to do the job. let's listen to him on that point again. >> i also think though that what people all over the country fear today is being abandoned by their government. if a tornado hits, if a hurricane hits, if a riot occurs, that they're going to be out there alone, and the only way they're going to protect themselves in the cold, in the dark, when they're vulnerable, is with a five arm. >> you know, congressman, what he's really appealing to here, if you have studied the groups like survivalist groups an
Feb 15, 2013 6:00am EST
tooescape the debt ceiling crisii of 2011."seriouu cuts at aaiports, seaportt..."atta hearing... aa sew of prrsident obama's cabbnet seeretarres &pwarned hat's coming."tte dammge here woold be iireparable. iiwish i hhd a - pagic wand to waae. simppl &pdon't have that."in adddtiin tt thooe tsa cutt creattng 3linee... the department of homelaad security may have to lose the equivalent of 5000 education cutss.. 70 thousand children could be -3 kicked out of heed start programs for low income families..nd the pentagon may 33 defense workerss"weemight as well just pack up and go home, pecause if we're just going o have across-the-board cuts, what is the oint f our beeng here?"while emocraas and moderate republicans want to & slam on he sequester brakes... some connervatiie lawmakers & are cheering on the cuts."not & onll should theesequesterr stand; many punddts say tth sequesser is far hhrt, that we need $4 trillion in cuts." congress ann the white house &pweee able to postpone thh -& to avert theefiscal cliff.but top republicans caution ddn't expect anothhr delay.""here 33 this
Feb 14, 2013 6:00pm PST
time the debt ceiling comes up trying to leverage that, making sure the president can't pass anything else, that we don't get past that debate unless they get their way i think the american people want us to get past that. the debt is very important but you can't have the same fight that's disruptive every six months. >> woodruff: congressman collins how do you see that? >> i think what we've got to do is look -- of course we represent everyone. in our districts and everyone in our state but more importantly everyone in our country. what we have to understand is we fight for the principles we ran on, we fight for the principles we believe in this country from an economic standpoint make us great. what we've got to understand here is many times these issues that divide us also can bring us together but it's not going to be one from bringing up the same old thing and to respond to the point of republicans, it's also been a theme of the democratic party as well to go back to taxing certain classes of people and that was another thing expressed the other night and very much of a
Feb 15, 2013 4:00am EST
this thing gets triggered and it just lingers on through the debt ceiling debate in july. that uncertainty is going to be a bit of a problem. >> that's not your base forecast, though. >> well, you know, over time, i think the markets will end higher. we'll end the s&p between 1500 and 1600. i like stocks here. i think you have to be overweighted stocks and underweighted bonds. no question about that. but i think in the next couple of weeks, at the very least, while some of this political uncertainty gets sorted out, the market will struggle to get higher. >> yeah. look, we've seen some interesting, you know, statements. george soros has dumped amazon, linkedin. what do you make of those particular moves? >> well, to me, you know, that's a tough business to value. and, you know, from his perspective, it's not surprising in the sense that they don't quite to seem to fit with the things he does on a macro basis. i read where he made obviously a lot of money on a bet against the yen. those are the kinds of things that he's typically to me better known for. but, obviously, if he's p
Feb 15, 2013 1:00pm PST
escape the debt ceiling crisis of 2011. >> serious cuts at air ports, seaports. >> reporter: at a hearing a slew of president obama's cabinet secretaries warned what's coming. >> the damage here would be irreparable. i wish i had a magic wand to wave, i simply don't have that. >> reporter: in addition to tsa cuts creating longer airport security lines, the department of homeland security may have to lose the equivalent of 5,000 agents at border and slice $1 billion from fema. education cuts, 70,000 children could be kicked out of head start problems for low-income families. the pentagon may have to furlough thousands of defense workers. >> we might as well just pack up and go home. because if we're just going to have across the board cuts what is the point of our being here? >> reporter: while democrats and moderate republicans want to slam on the sequester brakes, some conservative lawmakers are cheering on the cuts. >> not only should the sequester stand, many pundits say the sec questions administer's far short. that we need $4 trillion in cuts. >> reporter: congress and the wh
Search Results 0 to 19 of about 20 (some duplicates have been removed)